Sanlam has written down its investment in healthcare management group AfroCentric to nil after medical scheme Bonitas moved to end its relationship. Yet, the insurer insists there is still value to extract. The stake will stay. Sanlam CEO Paul Hanratty ruled out any sale. Sanlam owns 60% of AfroCentric, a holding it took three years ago and which has so…
Tag: Sanlam
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AfroCentric Results Show Revenue Surged Significantly
AfroCentric Investment Corporation has released its financial results for the year ending December. The JSE-listed healthcare giant reported a massive spike in revenue. However, the group also faced a significant basic loss. This was primarily due to heavy asset impairments and strategic business disposals. Massive Revenue Growth For AfroCentric The group’s continuing operations showed exceptional top-line growth. Total revenue climbed…
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Medscheme Bonitas Legal Battle Over RFPs Escalates Amid Probe
A critical legal dispute is unfolding in South Africa’s private healthcare sector. Medscheme has filed an urgent application with the Johannesburg High Court to suspend or terminate several Requests for Proposals (RFPs) issued by Bonitas Medical Fund. Furthermore, the dispute signals deepening tensions between long-standing partners in the administration of the country’s second-largest open medical scheme. Medscheme Bonitas Legal Battle…
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AfroCentric Divests Activo Health In Strategic Shift Toward Services
AfroCentric Investment Corporation, a Johannesburg Stock Exchange-listed healthcare firm, has announced the sale of its pharmaceutical unit, Activo Health, to Portuguese pharmaceutical giant FHC Group. This sale marks a pivotal shift in AfroCentric’s operational focus. The group is moving away from pharmaceutical manufacturing and marketing. AfroCentric Divests Activo Health In Portfolio Overhaul AfroCentric’s subsidiary, ACT Healthcare Assets, entered into an…
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AfroCentric’s JSE Collapse Fuels a New Healthcare Empire
As insurance giant Sanlam tightens its grip on health-fin services specialist AfroCentric, the line between public company and private control has all but vanished. What remains is a powerful lesson in strategic patience. It reveals how corporations (or businesses) can methodically turn market neglect into a corporate opportunity. While AfroCentric still technically trades on the JSE, its story is no…